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stories. president obama playing fiscal cliff hardball this morning. he's telling republicans he will not agree to a deal that doesn't include a tax hike on the wealthiest americans, hardening his position on this. he'll be meeting with business leaders today. >>> later this morning, speaker john boehner meets with fellow house republicans. sources tell cnn gop leaders are looking for a way out. >> it turns out the barefoot recipient of boots by a new york city police officer was shoeless but guess what, not homeless. city officials say jeffrey hillman does have stable housing, an parm in the bronx. they say he's lived there rent-free for the past three years. but hillman regularly panhandles in times square. >> a former boy scout who says he was sexually abused is suing is the boy scouts of america. the lawsuit claims his former troop leader, thomas hacker was barred from the group in indiana in the 1970s but was able to rejoin as a volunteer in illinois in the 1980s. hacker was arrested in 1988, later convicted in the aggravated sexual assault of an 11-year-old troop member in
. this is "the daily rundown." i'm chuck todd. let's get right to my first reads of the morning. today's fiscal cliff photo op of the day is going to be in suburban northern virginia when the president will remind the public yet again that without a budget deal taxes will go up on 100% of americans at the end of the year. he'll visit the home of a middle class family who shared their story through the white house's hash tag my 2k social media campaign. >>> with talks and a public stalemate on wednesday the president called speaker boehner their first conversation of the week. the two sides agreed on one thing. they wouldn't characterize the conversation. aides even refused to say how long the two leaders talked. this latest move, though, treasury secretary timothy geithner showed cnbc wednesday the white house is prepared to go over the cliff if democrats and republicans fail to get a deal done. >> when it comes to raising taxes on the wealthy, those making more than $250,000, if republicans do not agree to that, is the administration prepared to go over the fiscal cliff? >> oh, absolutely. aga
that went nowhere. we'll see what they think about the fiscal cliff this morning. >> osgood: thank you bob scheiffer. we'll be watching. and next week here on sunday morning ♪ >> osgood: amuseical flight are led zeppelin. >> osgood: we leave you this sunday morning where the bison roam at slew creek in yellowstone national park. >> osgood: i'm charles osgood. please join us again next sunday morning. until then i'll see you on the radio. captioning made possible by johnson & johnson where quality products for the american family have been a tradition for generations captioned by media access group at wgbh access.wgbh.org [ male announcer ] this commercial is not about getting fios; it's about getting fios. that moment after you finally got it, that you actually get it. when you can see blades of artificial grass in their full glory you get it. or the first time you download a two-hour movie in two minutes, you get it. because once you've got it, you get it. [ female announcer ] it's faster. it's better. so, what are you waiting for? now you can get fios internet, tv and
fiscal cliff this monday morning. >> we have not. i had a very high class economist, strategists, d.c. insider. they were optimistic. they see this fiscal cliff at the end of the year. even if it is a bad deal, we will have much stronger growth at the back half. stuart: do they think president obama gets the credit for this? >> they were not really keen on saying that at that very moment. certainly, if we fall off the cliff, it will be the republicans fault. >> i think it will be a bad deal. i do not see serious spending
talking about every morning here since the election. fiscal cliff, big, big issue. there are now, it seems, growing numbers of people on both the right and the left who would like to see us just go over that fiscal cliff. how big of a problem would that be? >> that would be a big problem. i actually still believe that those -- the democrats, the administration, republicans in the final analysis don't want to see that happen. they do understand that not only would that present a problem in the near term as we went over the cliff at the end of the year, but we still then have the whole debt ceiling fight that would transpire shortly into the new year. the issue isn't simply the negative result of going over the cliff, but it's also that business, consumers, everybody continues to hold back on the uncertainty. and we believe the economy is pretty well positioned potentially in 2013 if we can put this behind us. so i think a lot of what's going on is what you would expect to see in this negotiation, very public negotiation, which is not the best way to do it. i think at some point, the preside
in london. >>> in washington all eyes on the fiscal cliff, now just 22 days away. with the white house and republican leaders at a stalemate, president obama is hitting the road to rally support for his plan, which would raise taxes for the wealthiest americans. he met yesterday with house speaker john boehner, their first face to face meeting in more than three weeks. today the president will visit a detroit engine factory to rally support from auto workers. the president's meeting with speaker boehner didn't yield a big breakthrough, but the men did manage to agree on one thing, and that is that they will keep their negotiations behind closed doors. the men released this identical statement, saying this afternoon the president and speaker boehner met at the white house to discuss efforts to resolve the fiscal cliff. we're not reading out details of the conversation, but the lines of communication remain open. cnn's dan lothian is at the white house this morning. dan, i guess the fact that the lines of communication are open is a good sign. >> reporter: that's right. it is a good sign
if they are doing their part to rise above partisan politics and reach a deal on the fiscal cliff. good morning again, everybody. i'm becky quick. here is what we know right now. the pace of private talks picking up speed as we now have just 20 days left. however, neither the white house nor house speaker boehner's office are giving any public indication that either side is yet prepared to give up real ground. on a road trip yesterday, president obama indicated that he is willing to compromise, just not on that point about an increase in tax for relthy americans. meantime, speaker boehner says he is still waiting on specific spending cuts. joining us now for analysis, tony fratto, of hamilton place strategies and former white house press secretary and gerald bernstein former economic adviser to vice president joe biden. gentlemen, thank you for being here with us and getting this special day of coverage kicked off for us. >> rising early and rising above. >> exactly. let's talk about this. jared, it seems like things have gotten quieter. do you think that's the case? is that a good sign? >> i t
thing. i wake up in the morning with fiscal cliff reverberating in my brain and i can see politicians playing the very game that you alluded to there on jay leno and it is a game for them but for other people, it's a very real thing. and the economy at the moment is completely stagnant waiting for something to happen. you've been in a position of very negative government shutdown with president clinton and a very positive, where you and he in the second term got together, got stuff done and as you saw, a surplus in the economy. so you know what the reality of these debates are like and what it's likely to be going on behind closed doors. what is the way through this and how is this likely, in your expert opinion, to be resolved? >> first of all, i think it took the very tough two closings of the federal government, one for six days, the other for 21 days, in order to get to a point where we were able to negotiate seriously to get welfare reform which was vetoed twice and then signed, and then to get four consecutive balanced budgets which was a pretty substantial accomplishment. the o
by the year 2020. >>> quick market check this morning, u.s. stock futures are up, fiscal cliff uncertainty could continue to weigh on stocks until it's resolved. we're getting a lot of economic news this week with the jobs report on friday. so i expect to see hurricane sandy was at play in there. >> figuring into that report. looking forward to that. >>> first it was republicans throwing the president's fiscal cliff plan right back at him. now it's the president's turn. he rejected an offer that included no raise in tax rates for the top 2% of americans, seemed to indicate a little wiggle room on his insistence the taxes go up for the wealthy from 35% to 39.6%. here's what he told bloomberg tv. >> do they have to go up to 39.6% now? >> let me sort of describe the process here for you, juliana. let's let those go up and then let's set up a process with a time certain at the end of 2013 or the fall of 2013 where we work on tax reform, look at what loopholes and deductions both democrats and republicans are willing to close and it's possible that we may be able to lower rates by broadening th
the fiscal cliff. one more look at futures this morning on a wednesday. look like open 28. "squawk on the street" is back in a minute. >> there's a look at citi. the news on the bank this morning cutting 11,000 jobs. still working on a percentage of what that is on the overall workforce. they think it will be a pretax charge of about a billion dollars. savings of 900 million in 2013. rising to about 1.1 billion in 2014. we'll keep an eye on that name. >> very big. >> yeah. shares of pandora taking a hit in premarket trade. online music service beat expectations with third quarter results. ceo joe kennedy says pandora's advertisers are displaying caution about spending because of the fiscal cliff. he'll be on "squawk on the street" at 11:40 eastern time. and netflix paying for exclusive rights to stream disney movies. a lot of happenings moving stocks in a big way. with pandora, analysts give pandora a pass but they keep putting out bright spots in third quarter that did come in better than expected. mobile monthization. >> this is the first company that came out and blamed the fisc
thing this morning part of the fiscal cliff challenge for medicare is the simple math that people are living longer. so what are your chances of living to be 100 or older? it's my must read. up on our facebook page at facebook/jansingco.ew sou ps that will make it drop over, and over again. ♪ from jammin' jerk chicken, to creamy gouda bisque. see what's new from campbell's. it's amazing what soup can do. see what's new from campbell's. [ female announcer ] some people like to pretend a flood could never happen to them. and that their homeowners insurance protects them. [ thunder crashes ] it doesn't. stop pretending. only flood insurance covers floods. ♪ visit floodsmart.gov/pretend to learn your risk. [ male announcer ] can a car be built around a state of mind? ♪ announcing the all-new 2013 malibu from chevrolet. ♪ with a remarkable new interior featuring the available chevrolet mylink infotainment system. this is where sophisticated styling begins. and where it ends? that's up to you. it's here -- the greatest malibu ever. ♪ >>> house speaker john boehner is feeling t
to the fiscal cliff and the more american jobs are placed in jeopardy. >> good morning. the president has said on a daily basis that we should be passing a balanced plan. but what we hear from the president is continuing only discussion on one side of the ledger. it has always been about tax rate increases and nothing about spending. and we insist to say look, mr. president, let's talk about a balanced plan but where are your specifics on the spending cuts. even his own advisors say that any kind of agreement that we come to has to deal with the prime drivers of our deficit, which is the spending and particularly the health care entitlement programs. so we ask the president to please sit down with us and be specific and let's get that balanced plan. you know, it's interesting that the senate has passed a bill that is a bill calling for increased revenues of $850 billion. the president continues to say support that bill, pass that bill. well, how is that the case when he continues to say we also need $1.4 trillion in additional new revenues. so there's an inconsistency here and let's stop playi
this morning. u.s. stock futures are trading higher. the foj kus is on washington as fiscal cliff negotiations continue. we will also get an update on the health of the labor market when the weekly jobless claims report comes out later this month. >>> by now you all know the siren logo. >> many of you will grab a cup of coffee this morning. starbucks ceo has sobering advice to offer on the looming fiscal cliff, that the consequences will be far worse than last year's debt ceiling fight when the u.s. credit rating was downgraded for the first time ever. his message to lawmakers, now is not the time to play politics. it's about doing right by the american people. >> i think if people would get in the room and leave their ego behind, and not be so skewed towards the party but be so sensitive to the lens of the american people, we will have an agreement. >> poppy harlow is joining us with more. we've been talking about how this will affect us. schultz says this goes way beyond our boarders. >> it's global. something that stuck with me talking to him about this, the people who need a deal most will
on the morning spesh especially with the all important fiscal cliff. he says he didn't mind when there is gridlock. when the government does something it usually ends up in gridlock anyway. but jiamie dimon says the government has do much. >> we have moral authority around the world. let's just do it. the table is set very well right now. corporations, middle market companies, small business in good shape. 5 million more people working than four years ago. housing turned the corner. let's just keep it going. >> we heard from ceo of gold man sacks saying if this were a business man manner there would be no tripping of the fiscal cliff at the end of the year but also made interesting comments about goldman sacks reputation. here is how he categorized it. >> we started from scratch. no one knew who we were or what we did. and shame on us in hindsight we let other people define us and nobody knew what we attributed to the economy and jobs growth creation. we were slow off the mark because we hadn't really developed that sense. >> for goldman sachs, the president is definitely solicit
some sort of fiscal cliff deal together. ayman, you've been tweeting this morning already about some characterizations about the discussions between the speaker and the president in recent days. >> that's right. a republican source told nbc news that the conversation that the president and speaker had on the phone yesterday, lasted for only 15 minutes, and they described it as, quote, tense, unquote. and that may have something to do with the fact that the president lowered his request in his latest proposal to the house republicans from $1.6 trillion in new tax revenues to $1.4 trillion. clearly as you can see here, the republicans don't think that's enough. they want the president to come out publicly now with some specific spending cuts. now, there's some question whether or not behind the scenes the president has offered significant spending cuts. the president says yes, the house republicans say no. they say the democrats have taken so much off the table that all that's left there is the varnish. there's clearly a gloomy assessment here in washington, carl. >> ayman, we'll be co
. the question for you this morning, are you prepared if the nation goes off the fiscal cliff? it's the ultimate game of chicken. who will blink first on the fiscal cliff? not the obama administration as timothy geithner told cnbc, bring it on. >> is the administration prepared to go over the fiscal cliff? >> absolutely. again, there's no prospect to an agreement that doesn't involve those rates going up on the top 2% of the wealthiest. >> taxpayers might think that's easy for geithner to say. what about all those middle class families whose tax will go up more than $2,000 if, as geithner suggests, we take a dive off that cliff? even though president obama and john boehner chatted on the phone, there's still no deal. republicans are not amused. >> incredibly, many top democrats, including the president, seem perfectly happy. perfectly happy to go off the cliff. that's why the president has been more interested in campaign rallies than actually negotiating a deal. >> many americans don't have much hope the two side also come up with a deal. they've moved on already to plan b. the retired teacher
. important thing moving on about the fiscal cliff. the biggest story passed around here this morning was the politico article where they finally put a name on making a deal. the 37% solution, just split the difference between 35.6% and 39.6% increasing taxes and call it the 37% solution. that's the article everybody's been passing around today. on apple, just a quick note on apple here, there was as many notes out as there were analysts on apple. the main point on it is that most agree is that concern on iphone sales are the number one problem. att made a comment yesterday, that basically sales were the same as last year than the first sales of the --. a lot of t back to you guys. >> actually, i would be encouraged if i were an apple shareholder that the stock actually opened down today. if there's any hope. italian bonds getting hit today too. of course worth keeping track of. okay, let's shift the bonds into dollars. >> we're going to stick with that european theme and when bob pisani says central banks and activism in the same sen tes, i still have good bumps, they're not good goo
here. we appreciate it very much. we've been talking all morning about the fiscal cliff and investing. i want to asking, the last time you were on the show, you were out promoting governor romney for president. you said, frankly, that if he didn't win, it might change things, might change the world of investing. president obama won. your guy lost. >> yeah. >> has it changed how you're seeing the world? >> we're so long term focused, the stuff we fund is 7-10 years to see if it will work as a business. it doesn't change anything we do at the moment. i think it changes the political situation a lot and the budget situation a lot. >> in the venture world, does this issue matter? we talk about it all the time for big businesses that employ a lot of people, it matters. in your world does it matter? >> matters less at the moment but a lot in the long run. questions we always worry about in the valley these days, what's the level of regulation? what are the industries we can regulate and industries we can fund innovators to cause disruptive change. the thing i'm worried about right now is pr
all the time. >> industrials to the fiscal cliff. >> exactly. a quick break now. the morning's top stories when we return. that's what we'll have. >> plus the man of the hour, erskine bowles. find out whether he thinks washington can avert economic disaster. the courage to rise above when skwaux box returns. try running four. fortunately we've got ink. it gives us 5x the rewards on our internet, phone charges and cable, plus at office supply stores. rewards we put right back into our business. this is the only thing we've ever wanted to do and ink helps us do it. make your mark with ink from chase. you won't take our future. aids affects us all. even babies. chevron is working to stop mother-to-child transmission. our employees and their families are part of the fight. and we're winning. at chevron nigeria, we haven't had a reported case in 12 years. aids is strong. aids is strong. but we are stronger. and aids... ♪ aids is going to lose. aids is going to lose. ♪ made a retirement plan, they considered all her assets, even those held elsewhere, giving her the confidence to purs
a fiscal cliff deal. >>> what makes a person black? my new documentary sparks conversation about the color of your skin and how it defines who you are. who is black in america? >>> you may start feeling less pain at the pump. gas prices are crashing and how long will it last? just ahead. >>> a mexican american singer, a superstar, dies in a plane crash. now her fans in mourning. we'll have details, straight ahead. >>> a packed two hours for you. new york mayor cory booker will join us. and poet journalist, angela davis will join us as well. gold medal olympic gymnast gabby douglas has written a new book. and judy chu is with us, and the macks join us, and singer adam lambert. monday, december 10th. and "starting point" begins right now. >>> wow, that's an ominous little graphic right there. yes that is because the fiscal cliff is what we're talking about this morning. that's the starting point. president obama and the house speaker speaking face to face for the first time in more than three weeks. the two men who stand between millions of americans and the fiscal cliff sat down, had a conv
that is because the fiscal cliff is what we're talking about this morning. that's the starting point. president obama and the house speaker speaking face to face for the first time in more than three weeks. the two men who stand between millions of americans and the fiscal cliff sat down, had a conversation. a critical development 22 days away from the cliff, which means severe tax hikes and spending cuts unless the two can find a way to compromise. nobody is saying much. but spokesperson says the lines of communication remain open erskin bowles said this. >> you know, they have started to tango now and any time have you two guys in there tangoing, have you a chance to get it done. >> our white house correspondent, brianna keilar, live in washington, d.c. this morning. it doesn't sound like very much. but i guess we're making a lot out of it, a first step. any indication where it goes next? >> we don't know where it goes next. they are saying the lines of communication are open. we're expecting the white house and the speaker's office, they are going to continue talking. we don't know when the
on the fiscal cliff. a gloomy commentary this morning. expectations are getting narrow. grand bargains are out and the idea of maybe the fallback position is pass a simple tax bill like the one the senate had. the simple bill here. you have tax cuts for middle class but not for people over 250,000. you have dividends and capital gains going to 23.8%. that's the senate bill. and that's it. you leave out estate tax and leave out payroll tax cut and unemployment extension and you leave that out. no delay in the sequestration. this is pretty thin gruel. this is what's tossed about and talked about today overall. is that enough to satisfy the markets? remember, the two requirements, got to be before the end of the year and got to be substantive. before the end of the year but that doesn't sound substantive to me. i think there will be disappointments if that's all we get. did you see china? remember the bidder complaints two weeks ago. no efforts from chinese leadership to talk about the economy next year. now it's happening. we have another big move up in chinese mainland stocks today. up over 1%.
to handle the fiscal cliff? 48% believe president obama and republicans will reach an agreement but 43% say they won't. meantime, president obama is giving a stern warning to republicans who may be trying to use the debt ceiling as leverage. >> if congress in any way suggests that they're going to tie negotiations to debt ceiling votes and take us to the brink of default once again as part of a budget negotiation, which by the way we have never done in our history until we did it last year, i will not play that game. >> we should say that the president and house speaker john boehner did speak by phone yesterday. that was the first time in a week. no one is saying what the conversation was about. shortly after that call treasury secretary tim geithner went on cnbc and said the white house is ready to go off the cliff. >> if republicans do not agree to that, is the administration prepared to go over the fiscal cliff in. >> absolutely. there's no prospect to an agreement that doesn't involve those rates going up on the top 2% of the wealthiest. it's only 2%. >> i want to bring in "usa today" b
and getting that. >> it's a statement. >> let's talk about the fiscal cliff. also on the radar this morning, after president obama and house speaker john boehner both were tight-lipped how the negotiations went. the co-founder of the fix the debt campaign, he was asked about the chances of striking a deal to avoid the cliff. >> it's probably more like a 40% chance we'll actually get it done before the end of the year. probably 25% chance we'll get it done right after the end of the year. and then there's that horrible 35% chance that we'll still go over the cliff and have pure chaos. but i think the chances of getting it done now are better. i think that's what's key. >> be sure to tune in tomorrow for the fiscal cliff coverage live from washington. mission critical, rise above d.c., all day long. becky quick, jim cramer, maria bartiromo holding their feet to the fire about where they stand on the fiscal cliff and how they'll do their part to rise above partisan politics and reach a deal. now, there are some bowles comments. 40%, yeah, but the odds are much better. they're still 35% chance
the murder suicide involving kansas city chiefs player. >> and no closer to a deal on the fiscal cliff as retailers are depending on heavy sales in the last weeks leading to christmas. >> a battle to the beltway. the ravens take on the redskins, 11 news sunday morning starts right now. >> you're watching wbal-tv 11. [captioning made possible by constellation energy group] >> good morning and welcome to 11 news sunday morning, i'm jennifer franciotti. >> and i'm kerry cavanaugh. first we are going to look outside with ava and i could barely see this morning. >> it is so foggy out there, especially in low-lying spots where you really have to watch this morning. i already saw a minor accident on the road on my way to work. just take it easy because there's light drizzle across the area and people don't expect the roads to be slick but it takes a little bit of rain to get the roads slippery. if you plan to travel, there will be dense areas of fog to worry about. temperatures hovering around 50 degrees, 49 at b.w.i. marshall. the dew point at 49, as well, so a relative humidity at 100%, spe
'd be able to avert the fiscal cliff. >> exactly, very good, so much more clever and quicker than i am. dana good morning. the president and the house speaker offered new proposals. what do you know about them, if anything? >> reporter: you know, they're being very, very careful, they're holding their cards close to the vest, which i think you know as a reporter is frustrating but as somebody who certainly wants to get, to see this solved, that that is a completely nonpart son thing to say. it maybe is a good sign, because both sides are being very careful not to let the cat out of the bag on some of the specifics because they don't want the process to blow up even before it really starts in earnest. what we are told from democratic and republican sources is that it is still really just sort of the big picture that they're going back and forth on, big picture meaning how much are they going to try to raise when it comes to revenue. we understand that the white house earlier this week reduced their number by about $2 billion. the president wanted to raise revenue by $1.6 billion and said $1.4
$800 billion in tax revenue in the fiscal cliff negotiations. president obama has said there will be no deal unless taxes are raised on the wealthiest americ americans. but staunch conservatives don't want any kind of new taxes. that's where speaker boehner's job gets really tough. on piers morgan tonight newt gingrich said if all else fails, go over the cliff. >> i think that no deal is better than a bad deal. i think going off this cliff is less dangerous than letting things build up for a year or two years to an even bigger cliff. i think that the president clearly has staked out a position of nonseriousness. and i think that it's very difficult for the house republicans right now to find any practical way to get his attention. so, he just won an election. he is feeling very good about himself. he is posturing brilliantly, putting the republicans in a corner. they need to relax. they don't have an election until november 2014. >> senior congressional correspondent dana bash joins me now. dana, can we expect fire woworkt the meeting this morning? >> reporter: possibly
that was wasted in the fiscal cliff discussions, but the market sure isn't trading that way. how come? >> good question. with us today is david darst. what do you reckon, david? how come? >> i think you got the four cs. you got consumer confidence. you've got the china situation looking a little better. you've got consumer credit looking better, mandy. finally, take liberty with that fourth c, house prices. they're hanging in there. that's been one thing. on the other hand, you have a deceleration going on this quarter, mandy. our best guess is it's going to come in at about 0.8%. first quarter, 0.9%. >> what are you talking about, gdp? >> on gdp. the second quarter, 1.2%. you're seeing a deceleration here. this is basically e quill librium. it's not just the fiscal cliff, mandy, that's causing the market to do this seesaw action. >> we highlighted yesterday how the german and french markets hit 52-week highs yesterday. we're not close to that. we hit our highs in september and haven't looked back. are we being held back by the fiscal cliff? >> just like business people, investors are waiting
jerramy e centanni is live with the latest on the fiscal cliff. >> reporter: there is no deal yet. no negotiations, face to face, but one republican is giving ground this morning on a major stumbling block. and that's the tax rates for the wealthy. and a key democrat expressing optimism. here's the two side, moving a bit closer together on "fox news sunday." let's listen. >> i think we will get an agreement. the reason i think we will get an agreement. what's standing in the way is revenues, particularly making that top rate go up to 39-6. but i think we are seeing real progress. i think you will see our republican colleague, reluctantly say let's go up to 39-6. >> a lot of people are saying, give the president the 2% increase he's talking about, the rate increase on the top 2%. so there is a growing body. i am beginning to believe that's the best route for us to take. >> reporter: saying, go ahead give the president the tax increase on the highest 2% of wage earners. but house speaker and john boehner have not sat down for negotiations. even though corker is saying there is growi
it wasn't about the fiscal cliff. today it was all about the fed. the dow on the open this morning had a pretty good rally. kind of neutral until the fed announcement came out about what their intentions were for buying more treasuries. we were up 80 points at the peak, and then chairman bernanke started to speak, and the market went south, and we're finishing out the day to the downside breaking a five-day win streak for the dow jones industrial average and the yield on the ten-year note continued higher, so they -- t
to the market? >> eventually it will be the fiscal cliff that is more important to the market, but make no doubt about it, the fed meeting with the announcement wednesday morning and wednesday afternoon is going to continue to support risk assets. you were talking about how the dollar is melting up for the fourth consecutive day. the federal reserve will make a very active effort to continue to support risk assets. whether they're equities or commodities. the metals market had a very positive day, recovering a bit with the damage done last week. risk assets are doing well, but over the fiscal cliff for sure in december. liz: the fed, the fed, the fed. they're not going to do anything, but they might announce some sort of easing that is what we constantly talk about and wonder because that has been the trade. with it had a decent rally, the market up double digits the past year and a half very much in part because of the fed pillow put under there. what do you think happens and will there be tougher trading until then? announce a purchase program about $45 billion per month. that will accompany m
if we go off the so-called fiscal cliff. here's what he told cnn this morning. >> people who don't have the extra money to spend then hurt the stores they would shop at, the food they would buy and so on and so forth. this is a time in our fragile economy we cannot have a government especially republicans holding hostage all of this country. >> booker also says he's trying to decide whether or not he's going to run for u.s. senate or governor. he told us this morning that governor christie is vulnerable it to a chal laeng because of his stand on the environment as well as women's issues. >>> 16-year-old jgymnast gabby douglas catapulted in our hearts. in her new book she talks about how at one point right before the gameshe was ready to just forget the whole thing. now, something else a little different. listen to what she said. >> i wanted to quit right before the olympic games, and i wanted to work at chick-fil-a and join other sports like track and field. >> why? >> i was very homesick. my family came to iowa to celebrate christmas with me, and before i knew it was all said and done
fiscal cliff counter offer, both sides are coming out swings. speaker john boehner defended his proposal this morning, adopting a page from the dem's fairness playbook. >> the revenues we're putting on the table are going to come from, guess who? the rich. closing loopholes, especially on those who are wealthy, is a better way to raise this revenue than raising
. strangelove. i'm thinking, after listening this morning, how i learned to stop worrying and love the fiscal cliff. is that where we are right now? >> you know, jim, this shouldn't be that hard. the idea that we've got to get a $4 trillio over ten years, with a mix of revenue increases, spending cuts. you know, when you look at the size of our economy, when you're looking at what's asked of people all across europe, uk, all in emerging nations, this is so small on a relative basis, that it's almost unamerican we're not going to be able to step up and get it done. you know, i'm optimistic that we're going to be able to avoid the fiscal cliff. we're not going to go over that, we're not going to see sequester, the challenge is going to be, is the deal going to be big enough, comprehensive enough that we take that minimum of $4 trillion off this $16 trillion debt over the next ten years. >> we're going to intervene, no matter what, in the trends of american business, meaning as soon as this one is over, we'll have a debt ceiling. because we can't get investment going in this country. that's why
economic committee will be holding a hearing on the fiscal cliff and protecting the middle class and what can we expect out of the hearing. kevin hasset will be testifying today. director of economic studies. he also served as economic adviser to former presidential candidate mitt romney. kevin, what's your feeling now? i saw one of my colleagues tweeted a -- i don't get the "washington post," but dana milbank said republicans are raising a white flag as big as a bed sheet. is that how you see it? >> it is interesting if you look at the negotiations that president obama offered this massive tax increase with no concessions and this sort of outrageous request on the debt limit which was a really aggressive first offer. and then the republican s countered with a moderate reasonable plan exactly modeled after a proposal by erskine bowles. so if you're trying to handicap the negotiations, you'd have to concede that dana is on to something. >> really. so -- >> at least like the starting point. so basically the starting point for the republicans is what president obama probably would have viewe
. ? in washington, closed door meetings with the president and john boehner. >>> in the midwest, the fiscal cliff is the latest thing on people's minds as the first blizzard of the winter brings the region to a halt, highways closed and scores of flights canceled. that story is just ahead. >>> first, let's get to the news live at 5:30 here at "30 rock" in new york city. well, we begin with the new urgency in the fiscal cliff negotiations with now just 21 days, three weeks to reach a deal. today president obama returns to campaign mode taking the fiscal cliff message to detroit. yesterday the president and speaker boehner met privately at the white house, their first face-to-face meeting since they agreed last week to clear everyone else out of the negotiating room. so what happened? well, neither side revealed anything about the meetings, only saying that the lines of communication remain open. but yesterday another influential republican, senator bob corker from the senate banking commission said his party should consider the president's idea of raising tax rates on the wealthy. >> there is a gr
the fiscal cliff and like what they see from the jobs report this morning. >> my goodness. that's optimism there. can you talk to me a little more about this job market shrinking and that maybe why the unemployment rate dropped? >> two surveys that the government takes, household survey where they call thos thousands of people at home and ask, are you working? that's the number that gives us the unemployment rate. they also talked to thousands and thousands of companies and they say how many jobs do you have? how many jobs have you added? that's how you get that net job creation number up 146,000. when the government calls people up and they say i'm not working or i've dropped out of the labor market or whatever, you can see just how big the labor market is. we know that there are some, i think, 300,000 some people who have dropped out of the labor market. they've either dropped out. they could be retiring or they could drop out because they're a two income household and now they're a one income household. they are not going to look anymore, decided maybe they'll look next year. you can ge
difference in the direction of the country. >> now, let's shift to fiscal cliff. i want to talk to you about what another of your colleagues, tom coburn from oklahoma, had to say on morning joe about what should and should not be in the budget negotiations. let's play that and we'll come back and talk about it. >> i know we have to raise revenue. i don't really care which way we do. actually i'd rather see the rates go up than do it the other way because it gives us greater chance to reform the tax code and broaden the base in the future. >> he would rather see rates go up than closing loopholes, reforming the tax code at the moment. do you agree with that stance from senator coburn? >> i agree we need increased revenue. our biggest problem is the spending issue. revenue is on the table but our big of the problem as a nation is the spending. we continue to spend too much, borrow too much. now the president wants unlimited and unchecked, unauthorized ability to raise the debt ceiling without having congress involved, though the constitution, article i, section 8, says constitution -- of the c
going over the so-called fiscal cliff. strength in tech stocks helped the markets early on in the session and apple saw soiled gains on reports of record sales at fox con and gave those back and markets paeced mid-morning. the house speaker john boehner made those comments and took the steam out of markets and then just before 2:30, the dow, the nasdaq and s&p all started to slide after senator harry reid's comment that it would be extremely difficult to get fiscal cliff legislation through the senate before economist mass. the markets settled higher and all three averages moving above the 50-day averages for the first time. >> if he doesn't feel we'll get a deal before christmas, what about before the end of the year? did you month's smars doubled under the leadership of el men coleman. global economic unserbs and a $1 billion stock buyback. we'll tell you what you need to know. back in a moment. s the potential for making or losing money can pop up anytime. that's why she trades with the leader in mobile trading. so she's always ready to take action, no matter how wily
of the grio.com. fiscal cliff. mike, i want to start with you. it does seem as if there are three groups of republican thought, right? you have the conservatives saying, you know, don't relent on this. upset jim demint was critical of john boehner the day before he left the senate saying i can't believe you agreed 0 to any tax relief, where the house is trying to configure something that keeps them safe and then you have the governors. you've had others. christie thinks the same thing, this is ridiculous. don't do this to the republican party brand. just cut this deal. don't be so stubborn on these high-end tax rates. is that the way you see it? >> i think the elections have cons 0 againsts and the electorate has chosen divided government. they expect compromise and expect it from both sides. i don't think republicans should move on tax increases without significant movement on entitlements. >> you want to get something in return but go ahead and offer it. and right now they're not offering it. >> in order to get something done, people expect to get something done. both sides have to com
with business leaders again today to talk about the consequences of going over the fiscal cliff. he's also claiming to call on congressional leaders to make sure we raise the debt ceiling without contention. the white house making the case that extending the bush tax cuts for the middle class is directly connected to the health of our businesses. companies need to know consumers will be able to spend and in his first post-election interview president obama again rejected the house republican counteroffer that is on the table. >> unfortunately the speaker's proposal right now is still out of balance. we're going to have to see the rates on the top 2% go up and we're not going to be able to get a deal without it. >> let's hope he sticks to it. >> g.o.p. leaders aren't only dealing with the president and congressional democrats they're dealing with a split within their own ranks. more conservative republicans don't want party leaders to compromise anymore than they think they already have. even though the republican plan offers u
, too. >> caller: i'm a little offtoppic from the fiscal cliff but i think i can bring us back. >> stephanie: all right. >> caller: there was a shooting on an indian reservation a couple of days ago. five people were left dead. a shooting was -- has happened in oregon. the media keeps hyping up the fiscal cliff and they actually had a report on cnn where they were showing this woman blathering about how she's going to lose her unemployment and everything and i feel like there seems to be a tie-in between the economy, what's going on and this constant rampage. i'm wondering what at point is our government going to speak about it. i'm not one to condone removing all guns. we need to have a conversation. >> stephanie: also, i think everybody's going a little crazy around the holidays. i think there are a lot of factors right now. everybody i know is -- we're having mutual bitch session all day on the phone. 17 minutes after the hour. kids, i don't know what we would do without carbonite here at the "the stephanie mille
fiscal cliff and the broader economy. we'll start with this morning's other top stories. dan, welcome, great to have you here. >> great to be here. >> we want to find out about a lot of things including the housing market, because i know you have a really good feel for it. >> there's a lot to talk about that's for sure. >> the cliff and some of the stuff happening in michigan as well. >>> netflix received a notice from the s.e.c. regulators warning that they may bring civil action against the company and reed hastings for violating public disclosure rules by posting something on facebook. back on july 3rd the ceo posted and here's the quote netflix monthly viewing exceeded 1 billion hours for the first time ever in june which seems -- he thought that was fairly innocuous, but the s.e.c. says it violates regulation fd which is the public disclosure. you have to make full and fair public disclosure of what would be considered material nonpublic information. and hastings says this is crap. he's dismissing the s.e.c. contention saying he did not believe that the post was material on faceb
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